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Banking Jitters Propel Yen to Forefront, Overshadowing Fed; BoE Next
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Bank of Japan bought the smallest amount of JGBs in January since June last year
<p>The Bank of Japan said on Thursday it bought 5.95 trillion yen ($40.6 billion) of Japanese government bonds (JGBs) in January.</p><p>This is the smallest amount its purchased in a month since June last year. </p><p> The BOJ conducts bond-buying operations regularly to contain sharp moves in JGB yields. The smaller a
European Central Bank's Lane and Centeno are speaking on Thursday
<p>0900 GMT / 0400 US Eastern time – ECB member and Bank of Portugal Governor Mario Centeno attends a banking conference in Lisbon</p><ul><li>Lane spoke Wednesday: <a href="https://www.forexlive.com/centralbank/ecbs-lane-we-need-more-confidence-that-inflation-is-headed-to-2-20240131/" target="_blank&q
Bank of England Monetary Policy Committee meeting today – preview
<p>Bank of England meets Thursday 01 February 2024:</p><ul><li>no policy changes are expected</li><li>looking ahead markets have priced in the first cut from the Bank by the June meeting (the 20th), may is a possibility though</li></ul><p>Traders will be assessing the break down of votes on the
PBOC sets USD/ CNY reference rate for today at 7.1049 (vs. estimate at 7.1802)
<p>The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li>
CBA on inflation and Reserve Bank of Australia – RBA to revise their inflation forecasts
<p>Analysts at Commonwealth Bank of Australia on yesterday's Australian inflation data and what it means for the Reserve Bank of Australia.</p><ul><li>The December quarter CPI was below market expectations on both the headline and underlying measures. </li><li> Importantly for the outlook for monetary policy
PBOC is expected to set the USD/CNY reference rate at 7.1802 – Reuters estimate
<p>People's Bank of China USD/CNY reference rate is due around 0115 GMT.</p><p>The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan
Goldman Sachs are now forecasting the first Fed rate cut in May, from March prior
<p>Goldman Sachs were long-time proponents of a March 2024 Federal Open Market Committee (FOMC) cut to the Fed Funds rate.</p><p>They've now changed that call to May given the communications from the Committee and jpw on Wednesday.</p><ul><li> Powell gave a strong signal that a March funds rate cut ‘is proba
Fitch responds to the FOMC and Powell – "we don’t see rate cuts until June or July"
<p>Fitch Ratings chief economist responding to the Federal Open Market Committee (FOMC) and Powell on Wednesday:</p><ul><li>was “clearly some pushback here against growing market expectations of imminent rate cuts.” </li><li> “The Fed sounds quite cautious about prematurely reaching the conclusion that inflation